Westfield takeover secures all-clear

Unibail-Rodamco’s shareholders have endorsed the European group’s $A30bn takeover of Westfield Corporation, with some 94 per cent of votes cast supporting the deal. The transaction must still be approved by Westfield shareholders, and Winston Sammut of Folkestone Maxim Asset Management says this is likely to be a formality given that proxy advisers support it. Unibail-Rodamco’s secondary listing on the Australian sharemarket is slated for 31 May.